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Markets Open Up Solidly

Wall Street opened up strongly today, shrugging off news from the Commerce Department that the U.S. economy shrank at an annual rate of 6.3 percent at the end of last year, slightly worse than expected.

In the first 15 minutes of trading, the Dow is up about 96 points, or about 1.2 percent.

The broader S&P 500 is up about 1.5 percent and the tech-heavy Nasdaq is up nearly 2 percent.

Treasury Secretary Tim Geithner is about to testify on Capitol Hill, laying out his proposed sweeping regulatory reforms, first reported here by The Post's Binyamin Appelbaum and David Cho.